Condor Petroleum has reached a depth of 1,150 m in total at the Kiyaktysay North-3 (KN-3) well.
This well is on the Zharkamys West 1 contract territory in Kazakhstan and it has completed the wireline logging program.
The company has struck Triassic-aged sandstone over 275 m at the KN-3 well. It has discovered four zones through wireline logs, which encountered 7 m of net oil pay over an interval of 90 m. The company considers the KN-3 well to be non-profitable and plans to dump the well. The Triassic sand package found through the KN-3 well is of older geologic age than the Triassic sands, which was identified recently by Condor at Shoba.
The CEO and President of the company, has stated that the non-commercial KN-3 well was unfortunate but the company’s drilling record stays unharmed with several prospects. The well has penetrated an older part in the Triassic. This KN-3 well offers a significant measurement point for the play-type and has planned to integrate the drilling results into risk management and geological analysis for the remaining 2011 drill program. In addition, the well shows that it has active and extensive hydrocarbon system in the Zharkamys Territory due to the identification of oil.
Source: http://www.condorpetroleum.com/